Meditation has turn into extra mainstream in America, boosted by hovering subscriptions to apps similar to Calm and Headspace. Like so many private service markets affected by the pandemic, meditation facilities and yoga studios have needed to regulate and incorporate new expertise that makes their service extra accessible.
An estimated 36 million U.S. adults now meditate — rising greater than threefold from 4.1% in 2012 to 14.2% now. The standard meditator is a middle-aged feminine, extremely educated, non-Hispanic White, residing within the Western U.S. — similar to the profile of a yoga fanatic.
High 6 issues to find out about this market:
- Meditation market measurement: The U.S. meditation market was estimated to be valued at $1.86 billion as of 2021 and forecast to develop to $2.07 billion within the present 12 months. Marketdata forecasts 7.0% common yearly development, to $2.5 billion by 2025.
- Market construction: There are an estimated 990 meditation facilities within the U.S., largely non-profit organizations. They generated $192 million in revenues in 2019, however revenues fell 21% in 2020-2021, as a result of pandemic. They’re simply now returning to regular operations and incorporating extra digital choices (Zoom conferences).
- The yoga connection: Most of the nation’s 6,500 yoga studios additionally provide meditation lessons and are estimated to generate $350 million in revenues from them.
- Meditation apps: There are at the least 2,500 mediation smartphone apps now available on the market. Meditation apps, web sites, and on-line programs generate an estimated $440 million per 12 months. The main meditation apps are Perception Timer, Calm, and Headspace.
- Meditation client demographics: It’s estimated that the typical meditator spends $286-480 per 12 months on meditation lessons, books, apps, on-line programs, and provides, whereas the standard yoga consumer spends $500-1,000. An estimated 12% of the 36 million meditators use a category supplied by a meditation middle, yoga studio, or a practitioner — 4.4 million folks.
- Competitors: A complete of 349 of the U.S. meditation facilities are operated by three non-profit organizations: Kadampa Facilities, Transcendental Meditation™, and Shambhala Facilities. Only a few for-profit meditation facilities exist, and the market is ripe for funding.
Study Extra In regards to the Meditation Trade
For extra in-depth data, see Marketdata’s groundbreaking new report The U.S. Meditation Market that’s believed to be essentially the most detailed and complete evaluation up to now of the U.S. meditation market. The report covers market demand and construction, key firms and gurus, demographics, meditation middle operations, for-profit vs. non-profit facilities, results of the pandemic, market sizing, and forecasts.
In regards to the Writer: John LaRosa is the President of Marketdata LLC and is the creator of 100+ business and market research. His analysis seems in high media retailers together with ABC, CNN, Fox, Forbes, USA At the moment, The Wall Avenue Journal, The New York Instances, and quite a lot of commerce journals.
